Three buildings worth Rs 500 crore were forfeited under Smugglers and Foreign Exchange Manipulators Act, 1976 (SAFEMA) after the Enforcement Directorate (ED) on Wednesday revealed that drug dealer Iqbal Mirchi, close aid of gangster Dawood Ibrahim, misrepresented about the ownership of these buildings.
“The investigation conducted by ED revealed that, in 2005 Iqbal Mirchi, in connivance with Sir Mohamed Yusuf Trust, misrepresented about the ownership of these buildings before the Competent Authority (SAFEMA/NDPS Act),” the ED said in a press release.
“Relying on the evidence shared by Enforcement Directorate, Competent Authority (SAFEMA/NDPS Act) has forfeited three buildings — Rabia Mansion, Mariam Lodge & Sea View, all situated at Worli, Mumbai. The value of the properties is approximately Rs 500 Crores,” the agency added.
All transactions made around these properties were declared null and void, the order stated, adding that the properties were falsely claimed by a trust before competent authorities on the pretext that since Iqbal Mirchi had not made complete payment, it had not handed over possession to him.
On the basis of the above explanation, the properties were released from attachment under the Narcotic Drugs and Psychotropic Substances (NDPS) Act in 2005. On November 6, 2019, the ED investigated into the case and informed the competent authority of the fraud, sharing definite and undeniable evidence of ownership of these properties by Iqbal Mirchi, the press release stated.
“The evidence include complete payment receipts issued by the trust along with the corresponding entry in the bank passbook, letter issued by trust regarding handing over the possession to Iqbal Memon, submissions to Income tax admitting sale of these properties, etc,” the release stated.
“In the fresh order, the competent authority has now observed that the order dated 11.03.2005 was obtained through fraud, wilful suppression of documentary evidence and facts and is therefore non-est order in eyes of law. The Competent Authority further observed that the trust concealed vital evidence and facts regarding the ownership of these properties,” the press release added.
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